(a) There is established a separate and distinct fund in the Treasury of the Virgin Islands administered by the Commissioner of Finance to be known as the St. Thomas Capital Improvement Fund. All money deposited in the Fund must be expended exclusively for capital improvement projects and for road maintenance on the island of St. Thomas. The monies in the Fund remain available until expended.
(b) The Fund consists of money appropriated by the Legislature of the Virgin Islands, commencing in the fiscal year ending September 30, 2021; an annual appropriation of $1,500,000 from the Internal Revenue Matching Fund, which must be deposited into the Fund not later than December 30, of each year; all gifts, contributions, and bequests made to the Fund; and any possible time-up calculations executed between the United States Department of Interior and the Government of the Virgin Islands.